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Standard Chartered Bank Home Loan

Catering to needs of individual consumers and corporate, Standard Chartered pledged itself to offer premium range of products and services to its customer in India.

Standard Chartered Bank one of the oldest banks in India has tempting home loan features to offer you. SCB Home Loan can be availed to purchase plot for construction of House, construction /renovation/ repair/alteration/addition to house/flat and also to buy a fully constructed home. Standard Chartered Bank Home Loan offers home loan at variable and semi-fixed rate housing loans with just a one-time processing fee, calculation of interest on daily balance basis, Home Insurance coverage for home loan borrowers, and varied Home Loan EMI options and much more. Know your home loan eligibility and get the best deal with SCB Home Loan Eligibility Calculator.

If You opted for a home loan amount of Rs. 20 lakhs at the interest rate of 9.35% from Standard Chartered Bank for 20 years. Now, on this loan amount of Rs. 20 lakhs, you will get an interest subsidy of 4% on the loan amount of Rs. 9 lakhs out of the 20 lakhs loan amount. For the rest amount, you will get an interest subvention of 3% for next loan amount of 3 lakhs out of the 20 lakhs loan amount. The remaining 8 lakhs loan amount will be calculated at normal interest rate of 9.35%.

Under the CLSS-MIG Scheme the total monthly EMI and total interest amount are reduced see below the tables

Loan Amount

Loan Tenure

Monthly EMI

Total Interest

Rs. 20,00,000 (CLSS-MIG)

20

Rs. 14,875

Rs. 15,69,965

Rs. 20,00,000 (Without CLSS-MIG)

20

Rs. 18,447

Rs.24,27,318

Monthly EMI and Total Interest Rates are Reduced By Rs.3572 and Rs.8,57,353

Standard Chartered Bank Home Loan Benefits

Speedy and easy processing of application and disbursement of home loan

Loan offered to both categories is Rs. 5, 00,000 to Rs. 1, 00, 00000

Repayment option between 5 years to 20 years

No hidden charges

Option to transfer existing home loan at higher rates to lower interest rate